SE Asia Stocks-Most rise on hopes of trade deal, Malaysia leads pack

* Singapore posts near two-week closing high
* Philippine c-bank holds key interest rates
By Shreya Mariam Job
Feb 7 (Reuters) - Most Southeast Asian stock markets rose on
Thursday with Malaysia leading the gains, as optimism over a
trade deal between the U.S. and China were renewed following
indications of further official talks in Beijing next week.
U.S. Treasury Secretary Steven Mnuchin said on Wednesday
that he and other U.S. officials would travel to Beijing to
continue trade talks, eyeing a deal before the March 2 deadline.
China is the biggest trading partner of the region.
With easing trade frictions, a dovish Fed and prospects of
increased infrastructure spending, foreign investors are now
returning to Southeast Asian markets, propelling these markets
to record an upward trend for the most part.
So far this year, foreign investors have been net buyers of
stocks in markets such as Indonesia, the Philippines, Thailand
and Vietnam.
The Malaysian benchmark rose 0.6 percent, leading
gains in the region after thin trading in the region this week
due to a two-day closure on account of the Chinese New Year.
Utilities and consumer cyclicals boosted the Malaysian
benchmark index, with Tenaga Nasional Bhd and Maxis Bhd
climbing 3.7 percent and 2.5 percent, respectively.
The Singapore index gained 0.5 percent to its highest
level since Jan. 25, helped by telecom and industrial stocks.
"Singapore equities has some catching up to do as the U.S.
markets have done well over the last two trading sessions. At
the same time, traders are also placing bets ahead of the budget
on February 18, 2019," said Liu Jinshu, head of research at
Tayrona Financial Pte Ltd.
Shares of Singapore Telecommunications Ltd gained
1 percent while those of Jardine Matheson Holdings Ltd
firmed 1.3 percent.
The Philippine stock index climbed 0.5 percent, with
gains concentrated in industrial stocks. SM Investments Corp
and JG Summit Holdings Inc gained over 2
percent each.
The Philippine central bank kept its benchmark interest
rate steady for a second straight meeting on Thursday, saying
inflation risk had fallen on lower crude oil and food prices.
Meanwhile, the Thai index dipped 0.3 percent,
dragged by consumer and health care stocks. Shares of Bangkok
Dusit Medical Services PCL and Siam Makro PCL
dropped 1.3 percent and 3.3 percent, respectively.
A Thai shipping body on Thursday said Thailand's exports may
stagnate this year if the U.S.-Sino trade dispute continues and
the baht keeps strengthening.
Indonesian stocks also ended the session slightly
lower, hurt by consumer and financial stocks. Charoen Pokphand
Indonesia Tbk PT slipped 2.8 percent, while Bank
Central Asia Tbk PT slid 0.5 percent.
Vietnam financial markets remained closed for Chinese
New Year holidays.
For Asian Companies click;
SOUTHEAST ASIAN STOCK MARKETS
Change on the day
Market Current Previous close Pct Move
Singapore 3200.64 3184.56 0.50
Bangkok 1653.11 1658.71 -0.34
Manila 8100.3 8058.45 0.52
Jakarta 6536.457 6547.877 -0.17
Kuala Lumpur 1693.39 1683.61 0.58
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3200.64 3068.76 4.30
Bangkok 1653.11 1563.88 5.71
Manila 8100.3 7,466.02 8.50
Jakarta 6536.457 6,194.50 5.52
Kuala Lumpur 1693.39 1690.58 0.17
(Reporting by Shreya Mariam Job in Bengaluru; Editing by Rashmi
Aich)